Associated press January 15th, according to Contemporary Amperex Technology Co.Limited(300750) WeChat official account, at 15:30 on January 18th, Contemporary Amperex Technology Co.Limited(300750) EVOGO will be held to power brand conference.
The electric vehicle replacement mode refers to the centralized storage, centralized charging and unified distribution of a large number of batteries through the centralized charging station, and the battery replacement service for electric vehicles in the battery distribution station; Or through the power exchange station, it integrates battery charging, logistics, deployment and power exchange services. The power exchange mode has the advantages of short energy supply time, low vehicle purchase cost, prolonging battery service life, small land area for power exchange station, improving the recovery rate of scrapped batteries, etc.
The power exchange mode of electric vehicles can be roughly divided into commercial vehicle power exchange station and passenger vehicle power exchange station according to the type of vehicles served. Most commercial vehicles are operating vehicles, especially for long-distance passengers and trucks, “mileage anxiety” is a problem that must be solved in the promotion of new energy commercial vehicles. The operating vehicles in passenger cars have similar demand for endurance capacity as commercial vehicles; For domestic short-distance scooters, in the case of power exchange compatible charging, the power exchange model has cost advantages and time advantages, so the power exchange model is still expected to become the first choice for car owners.
the power exchange mode is “supported” by multiple departments
The development of power exchange mode is closely related to policies. Since the second half of 2020, the power exchange industry has ushered in rapid growth of policy dividends. The power exchange mode has experienced three stages of “testing the water – difficult exploration – ushering in the tuyere”. In the early stage, due to the small number of new energy vehicles and different standards, the power exchange mode developed slowly. Until April 2020, the Ministry of Finance and other four ministries and commissions jointly issued the notice on adjusting and improving the subsidy policy for new energy vehicles, requiring that the selling price of new energy passenger vehicles must be less than 300000 yuan (including 300000 yuan) before subsidy, At the same time, in order to encourage the innovation and development of new business models such as “power exchange”, the price limit of 300000 yuan is not implemented for new energy vehicle products adopting the “power exchange” mode, and the power exchange mode has developed rapidly; At the same time, the safety requirements for electric vehicle power exchange will be implemented on November 1, 2021, which is the first general national industry standard for power exchange, which is conducive to improving the standardization degree of power exchange industry and promoting the development of power exchange mode.
By October 2021, China had built 1086 replacement power stations, with a year-on-year increase of more than 100%. Although the construction of the power exchange station has begun to take shape, compared with the charging mode, the volume of the power exchange mode is relatively small and the development space is large. With the gradual recognition of the power exchange mode, many enterprises have indicated that they will carry out the R & D and layout of the power exchange mode. Dongfeng, Weilai, Aodong, BAIC, Chang’an, SAIC, Geely and other enterprises have cut into the power exchange track. At present, the Olympic Games, which accounts for the largest proportion in the power exchange field, plans to complete the construction of 10000 power exchange stations within five years.
power exchange equipment providers or most benefited
Soochow Securities Co.Ltd(601555) the research report points out that 2022 is the first year of large-scale capacity of the power exchange station, and the power exchange equipment manufacturers benefit the most: the core equipment of the power exchange station are charge and discharge equipment, detection equipment and automation equipment. Taking the passenger car replacement station as an example, it is composed of the outer warehouse (container) as the main body, and the container is divided into battery warehouse, monitoring office warehouse, ramp, AGV, battery disassembly and transportation machinery, charging warehouse, etc; Compared with passenger cars, commercial vehicle power station also includes hoisting equipment. In terms of value, the unit investment of passenger car power exchange equipment is about 2.6 million yuan and that of commercial vehicle power exchange equipment is about 4.2 million yuan.
The technical and market threshold of power exchange equipment is not high, and the core competitiveness lies in reliability and accuracy, as well as the renewal and iteration of equipment. (1) Reliability: there are few “black technologies” for power exchange equipment, and the reliability requirements of the equipment are high. Generally, the utilization frequency of the mechanical arm of the power exchange station reaches 1400 times / day, and the service life reaches at least half a year. How to achieve better technology, lower cost and better stability is the main goal pursued by the equipment supplier. (2) Accuracy: the accuracy is mainly reflected in the accuracy of the power exchange port, and the general accuracy is required to reach the millimeter level. We expect that in 2025, more than 16000 new power stations will be added, and the investment in new equipment will exceed 60 billion yuan.
Soochow Securities Co.Ltd(601555) it is recommended to pay attention to the following subjects:
(1) Suzhou Harmontronics Automation Technology Co.Ltd(688022) (688022. SH): extended from automotive electronics production line supplier to power exchange equipment supplier. The company’s power exchange business is positioned as a power exchange equipment manufacturer and equipment maintenance provider. It has accumulated a lot of technology and process knowhow in the production of automotive electronic automation equipment, which can be directly converted into the R & D and production of power exchange equipment, and gradually establish the competitive barrier of the company’s power exchange business. The technical advantages of the company’s power exchange are mainly reflected in three aspects: identification accuracy, transmission stability and assembly speed.
(2) Gcl Energy Technology Co.Ltd(002015) (002015. SZ): an advanced operator of clean energy, cutting into the operation service of replacement power station. The clean energy business and the power exchange station have strong synergy. The clean energy business provides low-cost power for the power exchange station. The energy storage nature of the power exchange station can reduce repeated investment. The cascade utilization of energy storage batteries or power batteries can realize the construction of low-cost energy storage station. The company implements the “electric port model”, cooperates with car enterprises and travel platforms to launch electric vehicle replacement and corresponding power replacement stations, and integrates power replacement resources as a third-party platform.
(3) Shandong Weida Machinery Co.Ltd(002026) (002026. SZ): swarp, its subsidiary, cooperates deeply with Weilai to enter the power exchange equipment market. Starting from drill chuck and its accessories, the company has gradually grown into a leading enterprise in the electric parts industry. Through external acquisition and internal business expansion, the company has increasingly enriched its product categories. In 2016, the company acquired Suzhou DeMarco and began to carry out research and development of power exchange equipment and technical reserves; In August 2017, Kunshan swop was jointly established with Weilai to lay out the power station business.
(4) Csg Smart Science&Technology Co.Ltd(300222) (300222. SZ): strategic cooperation with Weilai to cut into the field of power exchange equipment earlier.
(5) Shanghai jiuhang (unlisted): a manufacturer of charging and replacement equipment, providing charging and replacement and energy system solutions.
(6) Bertin Technology (unlisted): innovate the “box for box” mode and actively promote the separation of vehicle and electricity.
(7) Inventronics (Hangzhou) Inc(300582) (300582. SZ): increase capital and take shares in the equipment of oswell layout replacement power station, and form cooperation with Bertin technology.
